Online Link to Act/Rule/Legislation
Initial Setup or Ongoing Maintenance
Ongoing compliance requirement
Filing and Maintenance Requirements
Remittances against imports should be completed not later than six months from the date of shipment, except in cases where amounts are withheld towards guarantee of performance, etc. Banks may permit settlement of import dues delayed due to disputes, financial difficulties, etc. Interest in respect of delayed payments, usance bills or overdue interest for a period of less than three years from the date of shipment may be permitted in terms of the directions given by the Reserve Bank of India.
Application Guidelines / Responsible Persons / Comments